Q1 2024 Earnings Forecast for SSR Mining Inc. Issued By Cormark (NASDAQ:SSRM)

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) – Equities researchers at Cormark lifted their Q1 2024 earnings estimates for SSR Mining in a note issued to investors on Monday, April 22nd. Cormark analyst R. Gray now anticipates that the basic materials company will earn ($0.28) per share for the quarter, up from their previous estimate of ($0.30). The consensus estimate for SSR Mining’s current full-year earnings is $0.18 per share.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings results on Tuesday, February 27th. The basic materials company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.36 by $0.23. The company had revenue of $425.90 million for the quarter. SSR Mining had a negative net margin of 6.87% and a positive return on equity of 6.27%. During the same quarter in the previous year, the company posted $0.12 earnings per share.

Several other brokerages also recently commented on SSRM. TD Securities downgraded SSR Mining from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of SSR Mining in a research note on Monday, April 8th. Desjardins cut shares of SSR Mining from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. UBS Group lowered shares of SSR Mining from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $17.00 to $5.00 in a research report on Thursday, February 22nd. Finally, CIBC lowered SSR Mining from a “sector outperform” rating to a “neutral” rating and lowered their price target for the company from $18.50 to $6.00 in a report on Wednesday, February 14th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $6.63.

SSR Mining Trading Up 0.9 %

SSRM opened at $5.52 on Wednesday. SSR Mining has a one year low of $3.76 and a one year high of $17.72. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.99 and a current ratio of 7.01. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of -10.82, a P/E/G ratio of 1.65 and a beta of 0.82. The stock’s 50 day moving average price is $4.62 and its 200-day moving average price is $8.87.

Institutional Investors Weigh In On SSR Mining

Several large investors have recently modified their holdings of the business. American Century Companies Inc. raised its stake in SSR Mining by 321.9% in the third quarter. American Century Companies Inc. now owns 647,054 shares of the basic materials company’s stock worth $8,599,000 after buying an additional 493,695 shares in the last quarter. Scotia Capital Inc. lifted its position in shares of SSR Mining by 210.5% during the third quarter. Scotia Capital Inc. now owns 351,768 shares of the basic materials company’s stock valued at $4,660,000 after buying an additional 238,481 shares during the last quarter. AustralianSuper Pty Ltd bought a new stake in shares of SSR Mining in the 4th quarter valued at about $50,352,000. Hsbc Holdings PLC purchased a new position in shares of SSR Mining in the 3rd quarter worth approximately $259,000. Finally, U S Global Investors Inc. purchased a new position in shares of SSR Mining in the 4th quarter worth approximately $3,405,000. Institutional investors own 68.30% of the company’s stock.

About SSR Mining

SSR Mining Inc, together with its subsidiaries, engages in the operation, acquisition, exploration, and development of precious metal resource properties in the United States, Türkiye, Canada, and Argentina. The company explores for gold doré, copper, silver, lead, and zinc deposits. Its mines include the Çöpler, located in Erzincan province, Turkey; the Marigold, located in Nevada, the United States; the Seabee, located in Saskatchewan, Canada; and the Puna, located in Jujuy province, Argentina.